TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Take-Two posts record Q4 financials; Tencent acquires System Shock 3 licence; and G2A settles USD$40,000 (£32,600) key sales dispute. Take-Two posts record Q4 financials Take-Two has posted company-record net revenue for the fourth quarter ended March 31st 2020, with the New York-based holding company generating USD$760.5m (£620.7m), up 41% from the equivalent period last year. This growth was driven by a 40% increase in recurrent consumer spend through [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: CD Projekt now most valuable European game company; Amplifier Game Invest acquires DESTINYbit; and AdInMo raises USD$500,000 (£408,000). CD Projekt now most valuable European game company Warsaw-based CD Projekt SA is now the most valuable European game company, with its market capitalisation of €8.92bn (£7.97bn) surpassing that of French developer-publisher Ubisoft, which holds a value of €8.12bn (£7.25bn) at the time of writing. The Polish firm is best [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: PlayStation Store suspended in China; Unity acquires Finger Food Advanced Technology Group; and Rogue Games raises USD$2m (£1.6m). PlayStation Store suspended in China Sony has suspended the operations of the PlayStation Store in mainland China on an indefinite basis as of 10th May, with a spokesperson citing a “system security upgrade” as the reason for halting its services. The closure is potentially significant as it follows reports circulating [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Cloud Imperium raises USD$17.25m (£13.91m); €1m (£892,000) investment in Anybrain; and Koch Media & Kalypso Media expand publishing partnership. Cloud Imperium raises USD$17.25m (£13.91m) Cloud Imperium Games has announced that it has raised USD$17.25m (£13.91m) in additional funding from existing investors the Calder Family Office; Snoot Entertainment; and ITG Investment. The investment was raised through a one-time discounted share purchase option negotiated at the time of the developer-publisher’s [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop surpasses earnings expectations; ASOdesk raises USD$1m (£833,000); and Tribe Gaming raises USD$1m (£833,000). GameStop surpasses earnings expectations Video games retailer GameStop has published its financial results for the fourth quarter and full financial year ending February 1st 2020. While net sales over the course of the year fell by 21.8% over the course of the year to USD$6.466bn (£5.389bn), the retailer reduced its debt by a measure [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games acquires Cubic Motion; USD$4.1bn (£3.2bn) invested in XR in 2019; Super League Gaming posts net loss of USD$30.6m (£24.1m); and GameStop shareholders demand board representation. Epic Games acquires Cubic Motion Epic Games has acquired Manchester-based facial animation technology firm Cubic Motion for an undisclosed sum. The acquisition is not thought to result in any job losses, while current contracts held by the acquired firm will be [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: DDM acquires data platform from Digi-Capital; Destiny drops loot boxes; Disruptor Beam continues engine pivot; and GameStop announces trio of board appointments. DDM acquires data platform from Digi-Capital Northampton, MA-based video game and digital entertainment agency Digital Development Management (DDM) has acquired Digi-Capital’s gaming industry investment data platform for an undisclosed sum. The platform, which reportedly covers over a decade of financial transactions in the sector, will be [...]

TheGamingEconomy Daily Digest brings you the trending business stories in gaming. In today’s edition: Tencent Nintendo Switch sells 50,000 units on release; GameStop posts net loss of USD$83.4m (£63.4m); and Gosu.ai raises USD$2.8m (£2.1m). Tencent Nintendo Switch sells 50,000 units on release The Tencent Nintendo Switch sold more than 50,000 units in China on its release day of 10th December 2019, according to estimates compiled by Niko Partners. Retailer JD.com reported 105,000 reservations and 20,000 actual sales, with Tmail reportedly having sold [...]

TheGamingEconomy Daily Digest brings you the trending business stories in gaming. In today’s edition: Riot settles gender discrimination lawsuit; Black Friday gaming spend hits USD$4.36bn (£3.37bn); and Switch projected to sell 9.46m units in December. Riot settles gender discrimination lawsuit Riot has settled a class action gender discrimination lawsuit for USD$10m (£7.7m), according to court documents filed yesterday (2nd December 2019). Under the terms of the settlement, every female employee who worked at Riot between November 2014 and the final date of [...]

Apple is rumoured to be working with game outfit Valve on an augmented reality headset that may be due for release next year. Citing industry sources, DigiTimes points to late 2020 as the earliest reasonable debut for unnamed headset, and identifies Taiwan’s original design manufacturing specialists Quanta Computer and Pegatron as handling the manufacturing. While the news firmly falls under ‘rumour’, there are a number of reasons the suggestion is both compelling and fascinating. Valve is the respected and often beloved video game [...]